It’s not often you’ll hear someone who teaches marketing state that making money online is EASY.
Normally they want to sell you some complicated training course that costs four figures and teaches very little.
But making money online is easy. Really easy, in fact.
It might take a little while to start earning, but it will happen eventually. But only if…
You take focussed, consistent action following ONE system.
There are many ways to earn a full time income online.
- You could set up one mini website (4-5 content pages) each week for a year with Adsense ads and get each website earning $3-5 per day. By the end of the year you could be earning $150-250 per day.
- You could create your own product, sell it for $47 through Clickbank, pay affiliates 75% commissions (earning you $12 per sale) and sell 10-20 copies per day through affiliates earning you $120-240 per day.
- You could focus on building a list and promoting a variety of affiliate offers to them. If you can reach a consistent 50-100 subscribers per day, then within no time you will have a full time online income.
All of the above are fantastic ways to create a full time income online and live the dream internet lifestyle.
I’ve tried and succeeded (to an extent) in all three and more – but in 2011 I’m going to focus on just ONE business model and with consistent, focussed action I know that creating an insane, PASSIVE income is inevitable.
I want to share with you briefly the business model I’m going to adopt and then a few steps I will take to ensure success is inevitable. I’ll even share a case study with you so you can see a working example.
If you want to make 2011 the year you achieve your online dreams but you aren’t sure what direction to take, then read this blog post and then if it’s something you feel you can do, start planning your way to success.
Here we go…
The method I’m about to reveal is something I already do that brings in a consistent, but not extraordinary, income – but the steps I’ll take in 2011 will ensure that the resulting income from this business model will grow, grow and continue to grow.
Here’s the business model in a nutshell.
1. Sell a report, video or audio for $7-20
2. Pay 100% commissions to affiliates and JV partners
3. Automatically add buyers to your email list.
4. Profit from one time offers and future offers to your list of buyers.
I won’t go into massive detail about how to set this all up as I did so in my last blog post here.
Have a read of that post if you aren’t familiar with this business model and then come back here to see ways that you can optimize the entire process to turn this into a six figure sales machine.
Essentially, you sell a quality product at a minimal price, offer affiliates 100% of all front end sales and then recruit as many affiliates as possible to sell the product for you. They’re happy because they earn the full sale price and you’re happy because you get a quality lead who will buy future products from you (and you keep 100% of the profits) and affiliate offers you recommend.
From experience, a list of just 1,000 subscribers who have joined your list because they’ve purchased from you is an absolute goldmine. Therefore, the more people you can get on your list this way – the more money you will make.
Here’s how to optimize the entire process to get more affiliates and therefore more sales, subscribers and $$$…
1. Add a one time offer.
Affiliates promote products that can offer them the highest visitor value (amount of money they receive per visitor). If you include an instant one time offer after a person buys your front-end product and pay 50% of the OTO to affiliates, then that’s going to increase their VV and make them more inclined to promote.
If you’re really serious about getting big affiliates to promote, then you could even offer 100% commissions on the OTO. That’s what I do with Accelerated List Building.
If you want to increase your VV even further, then you could add up to three OTO’s. This can annoy some customers, but there’s no doubt it works.
2. Offer bonuses
Affiliates LOVE bonuses. I love promoting products with bonuses and I know other people do, too.
Cash bonuses work best with me, but physical prizes are also a great incentive.
Once you’ve identified how much each of your customers is worth to you, then you can assess the value of the prizes you can offer.
For example, if each customer has a lifetime value of $25, then you can offer cash prizes up to $25 per sale. Of course you will want some sort of margin so you could offer bonuses of $100 per 10 sales ($10 per customer essentially).
This makes the prizes within reach even for an average affiliate and will act as a great motivator. If I’d made 8 sales of a product and knew that just two more sales would result in a $100 bonus payment – do you think I’d dedicate a little time to making sure I get those two sales? Of course I would!
3. Increase your conversions
The more you increase your conversions, the greater the VV for your affiliates and the more chance you have of recruiting them to promote for you.
Let’s imagine an affiliate sends 1,000 visitors to your $10 offer (100% commission) and there is a $25 OTO (100% commission). Let’s assume the front-end conversion is 5% and your OTO conversion is 10% and that you are also making bonus payments of $100 for every 10 sales.
Your affiliate would make:
- 50 sales of the front-end product with $500 in commissions
- 5 sales of the OTO with $125 in commissions
- $500 in bonus payments
That’s a total of $1,125 from 1,000 visitors and a VV of $1.125.
That’s a pretty good VV, but now imagine that you can increase your conversions from 5% to 10% on the front-end (I’ve managed this before with a $10 product) and and 20% on the OTO (I’ve managed over 50% before on the OTO so this is easily doable).
Now your affiliate would make:
- 100 sales of the front-end with $1,000 in commissions
- 20 sales of the OTO with $500 in commissions
- $1,000 in bonus payments
That’s a total of $2,500 from 1,000 visitors and a VV of $2.50.
Affiliates will be going crazy promoting your product for you if you can offer this kind of visitor value.
Here’s a few quick things you can implement to increase your conversions without having any copywriting skills:
- Add proof to your claims – e.g. before and after photos if you are selling a weight loss product.
- Add testimonials from previous customers – e.g. “I followed your weight loss plan and lost 7lbs in 14 days…”
- Add more bonuses to increase real and perceived value
By the way, all the numbers I’ve used as examples are completely achievable – and you can actually do even better than that.
Getting high powered affiliates is all (well, nearly all) about offering a massive visitor value. If you can do that then you’re 95% of the way there.
Chris Rempel (one of the most respected guys online for providing top content) has a report dedicated entirely to increasing your visitor value.
It’s only $14.95 and I strongly suggest you grab yourself a copy if this is a business model you want to implement. You can grab it here.
Now, at the beginning of this article I promised you an example of one of these business models in action.
Here it is…
About two months ago Lee McIntyre released a product called Instant Internet Lifestyle for $19.95.
It’s a fantastic, in depth training course that should really have been priced at $197 or more. But Lee understands the power of getting buying leads into his funnel.
So he offered 100% commissions to affiliates for all sales they generate. Not only that but he has a number of one time offers in place to further add to the visitor value for affiliates. He is also paying commissions on all products that a customer purchases through him in the future. Not only that, but Lee is paying $400 bonuses for every 20 sales an affiliate makes.
For a breakdown of exactly how much Lee is paying to affiliates hit the link below. (Sign up too if you like and start promoting. Promoting this product has offered me one of the highest VVs I’ve ever had!).
Click Here To See The Breakdown Of The Affiliate Commissions
Here’s a rough breakdown of how much I’ve made promoting this offer. I can’t give exact figures as I’m not 100% certain of which future sales have been as a result of this promotion or past one’s.
Total visitors sent: 620
Total sales of Instant Internet Lifestyle at $19.95: 30 = $600
Total OTO and future sales: Approx $350
Total bonus payments: $400 (and only 10 sales away from another $400)
Total visitor value for me = $2.20
That’s a pretty incredible visitor value and this will only increase when I get the next $400 bonus payment.
I don’t know exactly how many copies of Instant Internet Lifestyle Lee has sold – but I do know he launched it from a balcony while on vacation in NYC.
He thought it would only be a small launch and only notified a few affiliates about it. It exploded virally and Lee had to return from his vacation early as his support desk was overflowing with queries.
I think the last I heard was that he’d made over 2,000 sales but that was a while ago now so I expect it is a much higher figure than that. A list of 2,000 buying subscribers is ab absolute goldmine!
It goes to show however that: a strong, quality offer + high visitor value = the key to getting affiliates, sales and making huge profits.
If you want to move me one sale closer to my $400 bonus payment, and want to get your hands on a top quality product that SHOULD be selling for something more like $197 – then pick yourself up a copy of Instant Internet Lifestyle.
Click Here To Download Instant Internet Lifestyle
And, if you simply want to promote Instant Internet Lifestyle to your subscribers and readers and take advantage o the huge cash prizes and insane visitor value then hit the link below to become an affiliate.
Click Here To Become An Instant Internet Lifestyle Affiliate
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What I’ve outlined in this article is an easy way to set up a full time online income simply by doing one thing and doing it well.
ANYONE can follow this system and use it to launch a full time online business. It just takes focussed, consistent action.
Thanks for reading. I hope you’ve enjoyed it and I hope you’ve found value in it.
If you have, as always, please leave a comment or use the Tweet button below to share it with your followers.
I’d really appreciate it.
Thanks,
James Penn
Welcome to my brand new blog. It’s taken a little while and been highly frustrating to set up, but now it’s ready and I plan to make this blog a source of cutting edge niche marketing content.
I want to Christen the blog with a post titled “How To Set Up Simple $500 Per Month Passive Income Streams“. It documents the strategy I would implement if I was starting out all over again from scratch and there are a number of reasons for this.
1. You can set it all up very, very cheaply (even free if you want to!)
2. You can set up your first income stream in a matter of hours
3. You can set up as many of these income streams as you want
4. Income trickles in completely passively with little care and attention on your part
5. You can outsource the entire operation to grow your profits wildly
I’m a massive fan of passive income and this is the ultimate way to achieve it. It’s by no means entirely “set and forget” but it’s as close as it comes.
The method involves creating websites that review specific products that are moderately highly searched for and that have little (or at least beatable) competition. I’m going to go into more detail now about how you can set up such sites and start to generate your own passive income.
Step #1
Finding A Product To Promote
This is the absolute key to the entire strategy. If you choose the wrong product, choose a product that’s not in demand or one with too much competition, you will fail.
I recently went through a product called Elite Niche Research from one of the good guys in Internet Marketing – Andrew Hansen. It’s the best product I’ve ever reviewed (you can read my Elite Niche Research review here) when it comes to finding hot, in demand, little known products that you can promote.
If this passive income strategy is something you’re serious about setting up, then I strongly suggest you download a copy of Elite Niche Research.
The first thing I should make clear is that we are looking for a product that is searched for by keyword in Google at least 1,000 times per month. This includes keyphrases such as “Product Name Review”, “Buy Product Name” etc.
I’d also suggest aiming for products that have an affiliate payout of $10 or more.
Here’s a product I just came up with:
Champion Juicer
Champion juicer itself has over 27,000 global monthly searches, but we’re more interested in the longer tail keywords such as:
“Champion juicer reviews” has 1,000 global monthly searches and a Google competition of less than 50,000. “Champion juiver review” has 260 searches and a Google compettion of just 500 search results! There are also other keywords such as “discount champion juicer” and “buy champion juicer”.
I use the Google keyword tool for my keyword research. Type “Google Keyword Tool” into Google to access it.
The people typing these searches into Google are seriously considering buying the product. With a little gentle persuasion, they could easily be convinced to part with their cash. Wouldn’t it be great if they did so through your affiliate link?
A Champion Juicer sells for $260 on Amazon.com. With a 4-8.5% commission (Amazon commissions increase the more products you sell) that would result in a $10-22 commission. Not a huge amount, but imagine if you were making just one sale per day for this one product. That’s between $300-660 per month.
And now imagine that you set up one of these websites per week (easily achieveable). Soon enough you could have a full time passive income.
By the way, going back to Andrew’s product Elite Niche Research, he reveals one completely brilliant idea I would never have thought of that could literally result in $1,000 or more commissions from ONE sale. With this tactic, you won’t make a four figure commission daily, but you could certainly experience four figure (even five figure) paydays on numerous occassions. Andrew calls it the “Super Commission Method” and it’s one of the most powerful videos in Elite Niche Research.
Further reading on the blog: How To Promote Big Ticket Products & Make $500+ Per Sale
So how do we set these sites up?
Step #2
Super Quick Website Creation For Passive Affiliate Profits
If you want to take this business model seriously then you’ll need to get some hosting. I strongly recommend Bluehost.com.
For a very affordable price you can host an unlimited number of domains and you’ll probably want a new domain for each product you decide to promote so this is a good feature.
If you just want to test this method out without any investment or risk then you can set up a free blog at blogger.com
It’s really easy to set up affiliate review sites. I suggest you use WordPress as your platform which can be easily installed from within your Bluehost control panel. It only takes a couple of clicks. Find a theme from the WordPress website to make your website more attractive.
Then it’s simply a case of writing (or have someone else write for you) a couple of posts that focus on the product you are promoting. You’ll want to target all of the long term keyphrases that you found with your keyword search and dedicate one post to each of these keyphrases, such as “champion juicer review”, “buy champion juicer”, and “discount champion juicer”.
Be sure to link to the product on multiple occassions and use images of the product for a more reader friendly design.
Step #3
Getting Traffic Passively
We want to hit the top of the search engines for the keywords we identified in the initial keyword research phase. If we can reach the top of the search engines for each keyword then we’ll receive a constant, passive trickle of targeted traffic that go on to buy products through our affiliate link.
Here’s a few tips to ensure we achieve this:
- Include the keywords in the page title, post title, first paragraph and last paragraph
- Include the keywords in the alt tags for images
- Submit articles to the top article directories and link back to each of your pages with anchor text
- Contribute articles to blogs and websites in your market with anchor text linking back to your website
Generally, the more backlinks you get from relevant sources, the higher you’ll move up the search engines.
If you want a complete guide to building backlinks that sky-rocket your search engine rankings, then take a look at this guide from Peter Garety called Strategic Link Building. Follow the link building methods and your website will be at the top of Google in no time – and you know what impact that will have on your income.
Step #4
Growing Your Operation
Setting up one product review site will not make you rich. Setting up 10 product review sites still probably won’t make you rich. But with each new product review site you create, you’ll increase your monthly revenue gradually until you reach a level you’re happy with.
Plus, once you start to make money with this passive income method you can outsource the entire process. Once you’ve found a product you’d like to promote, you can hire a virtual assistant to produce the content, compile a new website and focus on increasing your search engine ranking.
You can sit back, relax and watch the passive income roll in.
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This is a super simple business model that ANYONE can implement even if you’re a complete beginner.
The key is in choosing high demand, low competition products with a decent commission rate. Andrew Hansen reveals how you can do just that in his brilliant training course Elite Niche Research.
I know I keep going on about it but it really is that good!
If this is a business model you would like to implement then I really believe Elite Niche Research is a necessary purchase.
Click Here To Download Elite Niche Research
Thanks,
James Penn
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12/29/2010